Petrobras, Brazil’s state-owned oil company, has initiated the bidding process for the construction of a Floating Production Storage and Offloading (FPSO) vessel for the Búzios oil field. Interested companies must submit proposals within 180 days, with local content requirements set at no less than 25%.
If the bidding goes smoothly, Petrobras will sign a contract with the successful bidder using the Build-Operate-Transfer (BOT) model. The contractor will be responsible for the design, construction, assembly and initial operation of the platform, and then hand it over to Petrobras.
The FPSO, named P-91, will become the 12th production facility at the giant Búzios oil field in the Santos Basin. Petrobras is the operator of the Búzios field, holding an 88.99% stake, and its partners include CNPC and CNOOC.
The FPSO P-91 platform will connect 16 production wells, with a daily crude oil production capacity of 180,000 barrels and a daily natural gas production capacity of 12 million cubic meters. Its core function lies in its dual capability: processing its own natural gas production while also serving as a natural gas export hub for the Búzios field, transmitting export-grade natural gas to other platforms not equipped with dedicated export facilities.
Petrobras stated that the FPSO P-91 platform will expand natural gas supply in the Brazilian market.
It is worth noting that shortly before announcing the launch of the bidding process for the construction of FPSO P-91, Petrobras cancelled the bidding for FPSO P-86.
Petrobras explained that the cancellation of the P-86 tender was due to “unavoidable unforeseen events that altered the project’s economic viability under all evaluated scenarios.” The company also cited a law permitting state-owned enterprises to terminate procurement processes when significant changes impact project feasibility.